“The event you’re planning to host and run can be absolutely amazing, as long as people know about it, want to come to it, and have an interesting night at least!”
The first principle of my blog is Creating Ecosystems of Success, and two key focuses are Financial Literacy/Money and Business/Entrepreneurship. At some point you might want to host a business event. During such events you want to make the best possible impression on your guests. The following contributed post is entitled, Will Your Business Event Impress Your Guests.
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What would your dream business event look like? Would it be the epitome of aesthetics? Would it be filled to the brim with industry professionals? Would it be calm and casual, where your networking feels like real mingling? Well, now’s your chance to set these kind of events up!
Running a business event that’s good enough to impress each and every guest is going to be hard. It’s going to be a challenge, especially as a small business, and there’s going to be a lot of planning involved. So, in the interest of making this process a little easier on you, here’s just a few ideas you might want to employ, to make sure you’re setting the foundation just right.
You know what doesn’t impress? A mishap. Sure, dealing with a mishap shows off how resourceful you are, even under pressure, but on a night like this? You’re going to want to make sure your event goes off without a hitch.
So it’s key to start planning early. Your Event Planning schedule needs to start months in advance, and even a year if possible, to make sure there’s enough time to get everything in order. You’ll need time to secure a venue, and to get in touch with as many guests as possible. You’ll need to factor in time for changes in the plan, and you’ll need to make your staff aware of the big event looming on the horizon, to make sure they can all work that night.
As part of your planning, you also want to consider food options, especially for events that are designed to carry on over lunch or dinner time. Ultimately, hungry guests are less likely to be impressed. The food trends have moved from the usual corporate buffet to food truck catering nowadays. Food trucks also have the benefit of being an entertaining part of the your event, whether they deliver ice creams, tacos, or a simple slice of pizza on the go.
Create a Buzz Around Your Event
Creating a buzz means your event is going to be a hotspot for the night; it’s going to be marked on quite a few calendars, and reach the ears of executives up and down the country (or at least, the county!). And to do that, you’re going to need to market before the event, and during it as well – you never know who might be a latecomer!
Creating a buzz creates a hype, and that’s what gets attention. If your business event is being advertised all over the place, with a bit of mystery, and plenty of shine, people are going to notice it. So make sure there’s at least 6 months of marketing to go through, before the event actually happens.
Curate the Guestlist
And finally, one of the best ways to impress is to curate the guestlist. You want the right people to attend, and that means the guests need to be relevant. They need to be within the sector you’re advertising for, and they need to be interested in what’s going on during the night. You’re going to want to get into the niche, and to make sure all kinds of people within it are interested in coming along, to make sure your guests are diversified enough.
The event you’re planning to host and run can be absolutely amazing, as long as people know about it, want to come to it, and have an interesting night at least!
Three of the focuses of my blog are Financial Literacy/Money, Business/Entrepreneurship and Technology. Much of today’s business is done via e-commerce. There are numerous benefits to doing business using e-commerce. The following contributed post is entitled, How Can E-commerce Stores Reduce Their Costs.
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When you’re in the e-commerce business, it’s not just important to reduce your costs to ensure they’re not too high — it’s necessary. While these types of businesses are relatively easy to get off the ground without having much money in the bank, as soon as you’re looking at reaching a level where you’re professional/it’s a full-time job/it’s providing a full income, it’ll be a case of spending money to make money. Fortunately, there are a few tried and tested ways to reduce costs and boost profits, as we see below.
Making a sale is a cause for celebration, but only if it stays that way — if it gets returned to you, then that’s not a sale. That’s just one expensive journey for whatever it is that you’re selling. While you’ll be unlikely to reach a 0% return rate, there are things you can do to limit the number of returns coming your way. It all begins with your product pages. The more information there is on there, the less likely it will be that the customer will have an “oh, that’s it?” moment when it arrives. For clothes, don’t just put sizes — put the actual dimensions.
Get Finances In Order
There are many reasons why you should get your finances in order, one being that it can help save money in other ways. You’ll find it much easier to get better deals on just about everything if you have the paperwork that shows your finances are healthy, and that your business has staying power. There can be different costs for the same services, depending on the strength of the company — take a look at ‘what is high risk credit card processing?’ to get a better understanding of how. Once you’ve got your money in shape, you should see more favorable rates across the board, thus saving you money.
Repeat Customers
Many businesses are forever trying to bring new customers on board, but actually, it might be a better option to look at getting repeat custom from existing customers, rather than appealing to new people. It costs significantly less to market towards people who have used your website before, than it does to educate and entice new customers. These people have already used your service once — and they could be likely to use it again, too. In the process, you’ll have reduced your marketing budget, or at least used it more effectively.
Postage and Packaging
You’ve got to get your packages out there to your customers, but are you doing it in the most effective way possible? There are plenty of ways to package and ship your items, and if you’re offering this service for free, then it’s important that you find a system that doesn’t cost all that much. Take a look at using other companies from what you’re currently using. You can take this approach with all suppliers, actually — there might just be a cheaper way to get the same goods and services.
Two of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. In most modern countries, construction is a major business. Depending up what’s being built, a construction crane may be required. Thus, owing a crane for hire business could prove to be very lucrative. The following contributed post is entitled, Benefits Of Self-Erecting Crane Hire For Businesses.
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The majority of construction companies opt to hire canes rather than purchase them. This is of little surprise. After all, it proves to be much more cost-efficient to go down this route. Furthermore, the hassle is minimised because you do not have to deal with crane storage or maintenance either. In addition to this, when you consider the wealth of different construction tasks performed in the current day, you see why the same crane cannot be utilised for every task. For example, if you are in a busy and awkward setting you may require a mini crawler. Nevertheless, no matter what type of crane you purchase there is one quality you should always look out for and this is the ability to self-erect. Read on to discover the benefits you will reap if you opt to hire self-erecting cranes…
• Small footprint – One of the main reasons businesses like utilising self-erecting cranes is because of the fact that they sit on a very small footprint. They also don’t need much when it comes to foundations either. • Silent operation – In addition to this, most self-erecting cranes tend to run virtually silently. This is extremely beneficial when working in areas that have high populations. You will be able to get on with the task at hand whilst causing little disturbance to anyone in the area, especially those that are working as well. • Fit into tricky spaces – Another way in which self-erecting cranes can make your task easier is because they have the capacity to fit into tight areas. • Quick and easy mobilisation – Efficiency is enhanced dramatically because these types of cranes do not take very long to set up. In fact, most people find that they can have their crane working on-site within a mere one hour of its arrival. This ease of mobilisation is something which is highly sought after by companies today. • Cost efficiency – Self-erecting cranes also present you with the possibility to lower costs as well. There are several ways in which this is the case. One example is the fact that you will take advantage of low siting costs. In addition to this, you don’t need to worry about any reinstatement costs either. • Accuracy – These cranes present you with perfect accuracy via delivering materials to the exact spot required. • Improved health and safety – Another benefit people tend to overlook is the fact that they will benefit from enhanced health and safety on their site. This is because there is a lot less manual handling involved in the operation of the equipment, making it much easier for your site safety plans. This is extremely important because as you know; it is your duty to ensure you provide a working environment which is as safe as it can possibly be.
To conclude, when you take these seven important benefits into consideration it is quite easy to see why so many construction companies opt to hire self-erecting cranes time and time again. There are no real disadvantages associated with going down this route.
The first principle of my blog is Creating Ecosystems of Success, and two key focuses are Financial Literacy/Money and Business/Entrepreneurship. Business in a lot of ways is competition and it’s critical to understand the keys to making your particular operations successful. Knowing what to do at the key junctures can pay big dividends later. The following contributed post is entitled, When Others Want You To Fail – Keep Yourself Focused.
While it takes immense optimism and positivity to establish a brand and hope to develop a business from an idea – it can be that fervent competition makes certain markets anything but. Despite their size, Coca Cola would likely be quite content if other drinks manufacturers decided to close up shop. By default, as good business sense, it’s natural for other businesses to wish an end to your operation.
This can come from undercutting costs and taking a loss in order to outbid you in the market, corporate espionage, directly suggesting they are better than you in marketing, and a range of other tactics many of us see businesses pull all the time. However, as a small business, it’s unlikely your local area is going to be awash with this kind of trouble.
It’s worth keeping in mind how your strategy will evolve in this direction, though. Thankfully, there are many measures that anyone can put in place to ensure a better and more competent sense of business development – despite the hidden negative wishes of others. It’s all to do with refocusing. Let’s see what that might look like:
Refine Your Game Plan
Sticking to, or refining your game plan can be worthwhile from time to time. This is because in the intense measure of planning and development you’ve likely had to experience, it’s easy to get sidetracked, particularly if having to defend yourself from criticisms, or overcoming a failure of a launch. Going back to the most time-honored elements of your plan can be worthwhile, because then you can separate the wheat from the chaff and begin anew with the ideals that hold some value.
On top of that, becoming refocused and understanding what really matters can help you avoid the deep emotional turbulence you might feel when having to justify your business to others. This way, you’ll only have to justify it to yourself, and the results you focus on. Refocusing can be a great goal for any person’s headspace.
Use Professional Help
It can be that using professional help to get you to the next step can fuse your business acuity with the acumen of a professional service. This is especially worthwhile for those who might not have the deepest of business experience yet still want to gain professional results. For example, commercial buyers agents are often the best bet to utilize when hoping to find an incredible commercial property, one that keeps you focused on the task at hand and enables you to set up in the perfect environment. Business consultants, lawyers, outsourced health and safety personnel, all of these might further help you isolate the issues that you might have previously experienced and help you refine your goals and set about committing to the straight and narrow. This can seem like an overly ambitious goal, but it’s incredibly worthwhile and deeply human to wish to revive immediately. If you can do that, you’ll be quite stunned as to the positive results you can achieve in this direction.
Set A New Standard
It can be hard to find comfort when being set against by all competition in the marketplace, but there’s no reason why you need to stoop to that level – and you might sometimes actually subvert that into something good. Like a prism taking light and showing multiple strands of color, you may be able to foster business goodwill by acting ethical to a fault.
For example, championing a new means of developing a product could seriously get you noticed, and can help you avoid the bad publicity associated with certain competition. Let’s bring this down to a humble level. It might be that the other cafes in your area are quite happy to use battery-farmed eggs and instant gravy or other forms of low-quality food. While it might eat into your profit margins, ensuring that you use the best of produce, that you take time with each coffee or meal served, and that you champion your branding in that direction can do something similar to killing with kindness – and that’s killing with better standards.
There’s almost no better revenge than ensuring your business is on the straight and narrow path, and focuses on making its output as good as possible. If you can do this, then setting a new standard becomes the exceptional norm.
With these tips, we hope you’re better able to keep your business focused and direct from its heart – no matter the social challenges that come your way.
Two of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. Trust in business in key, especially the trust between you and your customers. Building your customers’ trust can be the difference between your business thriving or struggling which is why it’s critical that you maintain it. The following contributed post is entitled, Reasons Why Customers Don’t Trust Your Business.
Being liked is important in the business world, but it is trust that will secure long-term loyalty. People are much more likely to buy from a brand that they trust, even if they don’t like them, than a brand that they like, but aren’t sure that they can trust. All companies strive to make a good first and lasting impression. The trouble is, good intentions don’t always work out the way that you planned. With that in mind, here are six reasons why customers don’t trust your business.
Products Differ From Descriptions When marketing materials mislead consumers, whether it be intentionally or not, it can cause a lot of problems. After all, customers will have bought your products because of the promises that you made about them. If none of those promises can be kept, then a lot of people will have spent their money for nothing. Only promising what you’re sure you can deliver will prevent this issue.
Return Policies Are Complicated Although purchasing a product that you don’t need isn’t an ideal situation, it is one that can be easily solved by a simple and prompt return policy. If a customer tries to return a product to you for a refund, and they find it to be a difficult process, it will result in a lack of trust. It may seem like a counterintuitive solution, but making it easy for customers to get their money back is helpful.
Only Cash Is Accepting Making payments using a credit card offers a lot more protection than paying cash. This is why many consumers prefer it. Unless you’re a very small business, no customer is going to understand why they can’t pay with their card. Because of this, you should invest in credit card processing. This will make payments quicker and easier, as well as safer for everyone.
Extra Fees Sneak Up Charging a late payment fee is an effective way to ensure that consumers make payments on time. That being said, this will only work if you warn customers about the charge. Although these fees might mean more money in your pocket, they will damage the relationships that you’ve built with your customers. Warning them about the fees, however, will show you care about them.
Lack Of Customer Reviews A customer will always trust another more than they do you. This is why many people read reviews before they decide to make purchases. If you’re missing reviews on many of your products, it can put customers off from buying them. Providing an incentive, like a discount code or free gift, should be enough to convince buyers to leave reviews after making their purchase.
Complaints Are Always Ignored Having no reviews can often be worse than receiving bad ones. After all, when you get bad feedback, you’re given an opportunity to respond to it. In this response, you can tell customers exactly how you intend to improve. The problem is, many businesses don’t bother to do this. Rather than ignoring your customers, you should talk to them, especially on social media.
Building trust with customers can be difficult, but breaking it is very easy. To avoid doing so, ensure that you don’t make any of the mistakes listed above.
Three of the focuses of my blog are Financial Literacy/Money, Business/Entrepreneurship and Technology. Most business is conducted online today. You online business strategy is there are part of your business that you have to keep sharp. The following contributed post is entitled, 3 Tips For Your Online Business.
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Whether you are just looking into starting up your online business, or you have been established for some time, these tips will stand you in good stead to make some savings both in terms of costs and time, and help to ensure that your business continues to thrive.
There are IT solutions to cover pretty much every conceivable area of your business nowadays, so do ensure that you make good use of them all.
As your business is run wholly online, this is an area that you simply have to invest in, and it might be worth getting an IT consultant involved. You need to maintain the highest levels of security and ensure that there is minimal downtime.
It is then worth using technology to assist you with the administration side of your business. Rather than having to run things manually or employ someone in-house to take tasks on, you will find you can get accounting software, payroll services such as CloudPay and bookkeeping apps that can take care of everything for you. These options will not only be speedy, but also highly effective, freeing you up to focus on your business.
Maximise your traffic from every source
Many an online business has been built on one primary source of traffic, and then has sadly crumbled as that source dried up.
Take the recent Instagram changes, where business profiles receive less exposure as an example. Businesses that gained most of their traffic and promotion via this social media channel have suffered significantly and are now scrambling to gain traction on other platforms or elsewhere.
As such, you need to be ensuring that you are covering as many bases as you possibly can with your marketing and lead generation. Online businesses can do very well from social media, but spread those efforts out more evenly. Utilise Pinterest, Instagram, Facebook, YouTube and Twitter equally and closely monitor all content to understand what you are best sharing.
You should also always work to maximise your SEO, as if done correctly, this can be relied upon to deliver long term traffic to your website. This will not rise and fall on current trends and you need not be reliant on social media platforms changing their algorithms.
Build a strong brand and reputation
You are battling amongst thousands, hundreds of thousands, of other online businesses within your sector. In order to succeed you have to stand out.
You need to focus on your branding and ensure that you are conveying all that you are about within your design, website and logos. People need to land on your website and instantly understand your product offering, and they need to recognise you when they stumble across you elsewhere on the internet. Strive for something unique and something that says what it is that you do.
You will then have to monitor what people are saying about your business online. Your business needs to have a good reputation so you will be seeking to receive excellent reviews and to be responding to any online feedback. Set up Google Alerts so that you are always aware of any fresh content written about you.
Two of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. Real Estate is a major wealth-building tool. Landlords who own property must understand how to maintain and even upgrade their residential home properties in order to keep them up to code and also compete with other landlords. The following contributed post is entitled, 3 Home Improvements The 21st-Century Landlord Should Make.
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Nowadays, first-time homeowners are more likely to be in their 30s and sometimes even their 40s. Compared to our parents and grandparents, it makes no doubt that the real estate market has evolved dramatically. The price tag has increased tremendously, making it more challenging for buyers to secure the deposit and find an affordable mortgage. As a direct consequence, buy-to-let landlords find that their tenants are more likely to be interested in mid- to long-term tenancy agreements.
Indeed, the difficulty to enter the property market presents a valuable opportunity for landlords. As most tenants are keen to stay for several years, they also seek modern days comfort and facilities in their rented property. The shoe-box, dark property with a low rent doesn’t run the rental market anymore. Tenants want to feel at home, and they expect landlords to create a space that is fit for purpose.
The idyllic suburban house with a little garden is a home cliché that nobody cares about anymore. The truth is that your tenants work hard during the week to pay the bills and save money ahead of a deposit. They don’t have any time or interest in maintaining the garden. From lawn mowing to watering, a pretty garden requires a lot of effort – without mentioning money. Your tenants don’t want to spend their weekends clearing the lawn. They want to relax, and therefore, they prefer a front yard that is easy to manage. Consequently, it’s a good idea to work closely with concrete paving contractors to transform your yard into a smooth surface that can act as a cozy patio in summer. Additionally paving slabs are perfect as an impromptu parking space when your tenants receive guests.
Help your tenants save money on energy bills
Windows that let the cold air in and inadequate attic insulation have earned a place in the top ten worst rentals in history, but they are nothing modern tenants are ready to compromise. Indeed, your tenants have no desire of being cold in winter. Many know exactly what to check when they visit a property, and therefore, no landlord can afford to run rentals that waste energy. As most tenants will pay close attention to your windows, your heaters, and the overall temperature in the property, they will quickly spot any issue. But you can also provide additional support towards energy bill management by installing smart technology, which tenants can control with an app. Smart appliances and systems offer a compelling control argument for budget-focused tenants. If it seems as though this would be hard to take care of and that a lot could go wrong, you can hire property managers to deal with any potential issues for you, and you can just concentrate on keeping your tenants as happy as possible.
Switch the carpet for eco-friendly and easy-care solutions
What is the most common flooring solution? If you’re still thinking in terms of costs, you’re approaching the problem from the wrong angle. As a landlord, you need to consider flooring solutions that are easy to maintain – and therefore don’t require replacing each time you put your property back on the market. Concrete floors can be not only elegant, but they are durable, easy to clean, and non-traditional. Wood carpets share the same qualities and can be used for centuries!
Making your rental property appealing is all about putting your tenants’ needs first. Something else to consider that was not mentioned in this post is Attic Cleanup. Making sure the attic is suitable is another important aspect prospective tenants will ponder before moving into your property. Your tenants want something that is easy to manage, that provides great cost control, and that is durable – therefore, they don’t need to worry about it. From your curb appeal to your flooring solutions, it’s time to transform your rental.
The first principle of my blog is Creating Ecosystems of Success, and two key focuses are Financial Literacy/Money and Business/Entrepreneurship. No matter which sector you’re in, the décor of your office can impact the productivity of your staff. This is often overlooked by ownership and management. The following contributed post is entitled, Nine Ways Office Décor Can Make You More Productive.
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Did you know that the way you decorate your office can have an impact on your productivity? The way you decorate can encourage better work and minimize distractions. What are the best ways to decorate your office to help you work the best way you can.
Light it up. A properly lit office is very important. Being in a well lit environment boosts your energy, and it reduces eye strain. If you’re using a computer all day, make sure your workspace is well lit to protect your eyes. Add more light with lamps, or light window treatments to let in more natural light. Move your desk next to a window to make the most of the daylight.
Choose the right furniture. Make sure your desk is the right height for you to work comfortably, and choose a desk chair that offers good support for your back. Adjust your chair to match your desk height. If you’re furnishing a large office, find the best options by using a service known for connecting global buyers and furniture manufacturers to get the best deals.
Declutter. A tidy workspace can help you to focus. Clear anything you don’t need off your desk, and invest in a set of desk drawers to store everything out of sight instead.
Paint the walls the right color. Did you know, color can have a big impact on your mood? Blues are shown to stimulate the mind, while yellow can increase creativity. To make your office more relaxing, choose green.
Engage your senses. Some people find that scents can help them concentrate too. Experiment with scented candles, reed diffusers or scented oils in your work space and see if it works for you. Peppermint is often used to energise, and citrus is great to reduce stress. If you work in a communal office, make sure your neighbours don’t mind you adding strong smells.
Add plants. Plants make a work space feel more homey, especially if you don’t have much chance to get outside in your work day. Adding plants also boosts the oxygen in your office, which aids your ability to concentrate.
Get motivated. Feel inspired by motivational messages? Add some to your work space. Buy posters or postcards to pin up around you with messages that you find inspiring. You could make your own messages too by using scrabble tiles, letters cut from magazines or with letter board.
Add storage. Being able to quickly and easily find important documents will make your work day go more smoothly. Invest in some practical, but visually pleasing, storage. Store away paperwork, stationery and other desk clutter to keep your desk clear and save you time hunting for things.
Try a standing desk. Sitting all day won’t do much for your energy levels, and many find they get more done while using a standing desk. If you don’t get on with standing to work, make sure you get up and move around often to get the blood flowing again. Whether you just take a walk to the office kitchen and back, or spend five minutes dancing around your home office, taking time to move will help you.
Two of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. While the healthcare administered is the most important aspect of any healthcare facility, the appearance plays a key role too. The right space will make your patients feel comfortable will likely encourage them to return. The following contributed post is entitled, Thoughts On An Effective Healthcare Space.
Taking care of our health is very important, but can be intimidating and unwelcoming at times. Whilst being looked after in the comfort of your own home can be a better compromise, healthcare practices are often seen as drab spaces with fluorescent light and cold tiled floors. However, an increasing number of practices are shifting towards producing warm and relaxing surroundings which make patients feel at home and comfortable. Regardless of who you are and in what point you’re at in your own life, walking right into a clinic that provides you with a sense of comfort, security and enjoyment will always elicit a favorable response compared to entering a clinical and cold area in which you feel dread and anxiety. This is the reason why it’s critical to make patients feel at ease.
The layout and design of any office are very important for productivity, efficiency, and comfort for the occupants. Fantastic design can play a critical role in the medical business, particularly when accuracy, professionalism and anxiety management are regarded as crucial elements for any clinic. Health practices are a place to be appreciated, somewhere individuals are going to want to return to and also a favorable location for employees. Straightforward design variables such as a splash of color and furniture changes may alter a practice’s dynamic. Significant elements of a thriving clinic comprise an aesthetic layout and excellent decor which will endure the test of practicality and time. The layout should make the lives of both patients and staff simpler. First impressions are also very important to any company.
Strategies for space and growth of future services have to be considered in as much detail because of the positioning of the lighting and doors. Not allowing enough layout time can be detrimental, which will not promote effective decision making for many parties involved, causing the finished product to be jeopardized for quality & decent design.
Creating flow and associations between design elements, while at precisely the same time being aware of visual focus is paramount for great designers. Throw in the additional components of organic light and compliance with statutory construction code requirements and you’ve got the raw ingredients for the perfect practice.
So why is the design of healthcare practice significant? When we come into a practice to wait for therapy, or work in a clinic, this has a significant impact on our emotional and physiological reaction. It’s the aesthetics which could tell individual and the team just how much the professionals care in their job and therefore are an imperative function which predetermines a patients expectations and expertise.
The most significant marketing components to any health clinic are the surroundings and the men and women working inside it. The way a patient feels in the start, during and following a consultation period is paramount to the company’ marketing efforts. It’s similar to a website that’s simple to navigate and is informative. A well-designed health practice functions in precisely the exact same manner. When the workflow is great and the practice is nicely put together, you’re more inclined to return there.
Three key focuses of my blog are Financial Literacy/Money, Business/Entrepreneurship and Technology. Blockchain Technology is a technology that will impact numerous sectors is an area that’s worth keeping an eye for those the financial and technology sectors. In the first Blockchain Technology piece on my blog, I gave a comprehensive overview of the technology. The following guest post comes courtesy of Techwarn. It discusses plans to implement and grow the technology on the island of Taiwan and is entitled, Taiwan is Becoming a Blockchain Island, and Jason Hsu is behind it.
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Image from pixabay.com
The world’s digital infrastructure, internet usage, and connectivity are changing rapidly. This is all thanks to the emergence of technologies such as Artificial Intelligence (AI), the Internet of Things (IoT), and Blockchain. Blockchain — the technology behind cryptocurrencies such as Bitcoin, Ethereum, Ripple, etc. — in particular, is a very powerful idea. Just like the internet did in the 1990s, Blockchain has the potential to revolutionize our lives.
Although it was originally developed for financial transactions, blockchain technology can be used to record just about any type of data or transaction. This revolutionary technology allows the distribution of digital information without copying thereby creating a new kind of internet that seems incorruptible. The use cases of blockchain extend beyond cryptocurrencies, and many countries are still on the fence on whether to advance its adoption, with the exception of Taiwan.
Serious About Innovation
The east Asian island nation-state of Taiwan is serious about innovation in the fintech. The country is pumping millions of dollars into advancing the adoption of cryptocurrency and blockchain technology. Jason Hsu, a congressman in the Taiwanese parliament is working tirelessly to integrate blockchain on a national level and steer the state towards the use of blockchain technology for more than just cryptocurrencies. His goal is to help Taiwan become a blockchain island.
In an interview with Jason Hsu, ExpressVPN asked the popular Taiwanese parliamentarian how exactly he plans to transform the small island nation-state into a crypto and blockchain hub. According to Jason Hsu, the law is a major impediment to innovation in the country. The congressman wants to use his legislative powers to help create an environment that nurtures and cultivates blockchain and financial technology and attract more start-ups to the island.
Who’s Jason Hsu?
Jason Hsu is a former Silicon Valley entrepreneur who wants to turn Taiwan into a haven for people working on different applications for blockchain technology. Hsu moved back to the island in 2009 and started working with the government as the advisor to the prime minister on matters innovation and technology. He joined politics in 2016 after being nominated to the Taiwanese parliament as a legislator-at-large. In his role as a congressman, Jason Hsu focuses on technology broadly and does not represent any singular district.
Since he became a congressman, Jason Hsu has worked on legislation relating to autonomous vehicles, cybersecurity, and the digital economy. Currently, the man christened “the Crypto Congressman” by Ethereum’s Vitalik Buterin is on a mission to transform Taiwan into a blockchain island and cryptocurrency hub. Jason Hsu is working tirelessly to deal with any issues between public policy approach and technology. The ‘Crypto Congressman’ hopes to remove legal barriers to technology innovation in the island.
How Has Jason Hsu Changed Taiwan?
The blockchain landscape in the world remains highly uncertain. Countries such as Singapore and Switzerland have taken a proactive approach and have cultivated favorable environments for the advancement of cryptocurrency and blockchain technology. These nations are the pioneers of the current digital currency regulatory frameworks in favor of cryptocurrencies and blockchain technology. Taiwan wants to join the ranks of Singapore and Switzerland and become a blockchain island. Jason Hsu is leading transformation efforts.
As neighbors China and South Korea issue blanket ban on ICOs and ICO activity, Taiwan is moving in a different direction. Lawmakers in the island are passing legislation intended to encourage cryptocurrency and blockchain innovation in the island. Congressman Jason Hsu has played a pivotal role in the drafting and passing of legislation designed to advance blockchain and financial technology in the country. For instance, the legislator helped draft and pass Taiwan’s Regulatory Sandbox Bill.
The Financial Technology Experimentation and Innovation Act
Taiwan’s Financial Technology Experimentation and Innovation Act, popularly known as the Regulatory Sandbox Bill, is historical regulatory legislation designed to overhaul the island’s fintech and usher in a new era for the sector. The Regulatory Sandbox Bill allowed selected start-ups to launch new products and services with some immunity from existing regulation for up to one year. The bill was passed on 29th December 2017 and was a response to the decision by the Chinese government to block ICOs.
In September 2017, two months before the Financial Technology Experimentation and Innovation Act was signed into law, Chinese authorities banned Initial Coin Offerings (ICOs) by cryptocurrency websites in mainland China. Congressman Jason Hsu came up with the idea to draft the Regulatory Sandbox Bill to ‘capitalize on this chance to introduce friendly legislation that nurtures and cultivates blockchain technology and attract more start-ups to Taiwan.’ This move earned Jason Hsu the nickname ‘Crypto Congressman.’
According to Congressman Jason Hsu, the goal of the Taiwan authorities is to create a fair regulatory environment that encourages innovation and protects the rights of the consumer. The ‘crypto congressman’ believes that Taiwan’s large pool of talent can pilot and pioneer projects that can build actual applications for the blockchain and transform Taiwan into a blockchain island. Compared to Silicon Valley, Hsu notes that the island nation has a supply of cheaper engineers who are just as good — if not better — than their counterparts in Silicon Valley.
What About Taiwan That Makes It Ripe for Blockchain and Technology Development?
In addition to his contribution in the drafting and passing of the Regulatory Sandbox Bill, the congressman has drafted numerous policy recommendations to make Taiwan more friendly to blockchain and cryptocurrency start-ups. The ‘Crypto Congressman’ has helped create a bipartisan alliance designed to help support the blockchain industry. The parliamentary coalition is currently working on implementing a number of crypto and blockchain legislation in his quest to transform the tiny nation-state into a blockchain island.
So far, Congressman Jason Hsu says he has introduced 25 projects across different government departments to address the implementation of blockchain technology in areas such as drug testing and supply chain management. Authorities in Taiwan understand that blockchain has great economic potential and are doing their best to advance the adoption of cryptocurrency and blockchain technology. The positivity of Taiwanese authorities towards innovation in cryptocurrency and blockchain technology indicates that the island is ripe for blockchain and fintech development.
